Answer:
........................Income Statement for the month of June...............................
Service Revenue.....................................................................$5,544
Less Expenses
Rent Expense .................................................$440
Utilities Expense.............................................$220
Salaries and Wages Expense......................$880
Gasoline Expense...........................................<u>$88</u>
Total Expenses .........................................................................(<u>$1,628)</u>
Net Income (Loss).............................................................$3,916
Service revenue = Services performed on the 5th + Services performed on the 20th
= 4,224 + 1,320
= $5,544
Answer:
<u>Democracy.</u>
Explanation:
Democracy is a social organization characterized by popular influence and participation in the political decision-making process. In the democratic regime, the people are free to choose their rulers through votes.
It can be defined in a broader context as a constitutional, electoral and administrative order, the foundations of which must be established according to a social system. Some fundamentals of democracy are:
- Freedom of expression and opinion of the individual.
- Freedom of expression and political opinion of the individual.
- Equal political rights and favorable opportunities for the people and parties to speak out on decisions of general interest.
Answer:
$165
Explanation:
The working capital of organization is the difference between the current assets and the current liabilities of the organization. It shows if a company has enough short term assets or asset that can be converted quickly to cash to settle obligations that will arise in the short term.
Working capital as at December 31, 2015
=$1,105 - $915
=$190
Working capital as at December 31, 2016
=$1,320 - $955
=$365
Change in working capital in 2016
= $365 - $190
= $165
Answer:
d. Accounts payable and accruals are tied directly to sales.
Explanation:
Additional funds needed method determines the amount that the company needs to finance the increase in total sales.
In response to the increase in sales, the company has to increase its assets to achieve that goal. The increase in total assets is partly offset by an increase in liabilities and the other part is offset by an increase in retained earnings.
The only true statement of the AFN equation is the option d), and the other options are not right.
